Arbitron Q2 Revenue Up 12%

Arbitron Q2 Revenue Up 12%
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For the second quarter 2002, Arbitron reported revenue of $56.5 million, an increase of 12.4% over revenue of $50.3 million during the second quarter of 2001. Earnings before interest and taxes for the quarter were $15.0 million, compared with EBIT of $12.8 million during the comparable period last year. Net income for the quarter was $6.6 million, compared with $4.7 million for the second quarter of 2001.
Cost and expenses for the quarter increased by 11.0%, from $40.4 million in 2001 to $44.8 million in 2002, largely the result of spending related to the RADAR service, acquired in the third quarter of 2001. Increased expenses for the Portable People Meter initiative during the quarter were partially offset by a planned reduction in Web casting expenses.
For the six months ended June 30, 2002, revenue was $122.4 million, an increase of 10.8% over the same period last year.
Commenting on the results for the second quarter, Arbitron President/CEO Stephen Morris said, "Arbitron continues to perform well, despite a difficult economic environment. While we expect the general business climate to remain challenging throughout the year, we enter the second half of 2002 with strong fundamentals, a stable and growing core business and exceptional opportunities in new markets such as Latin America."

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